Financials Mercedes-Benz Group AG

Equities

MBG

DE0007100000

Auto & Truck Manufacturers

Real-time Estimate Tradegate Other stock markets 13:40:28 23/06/2025 BST			5-day change	1st Jan Change
48.29 ^EUR	-0.70%		-4.26%	-10.28%

06-05	Mercedes-Benz proposes tariff offset system with US, Spiegel reports	RE
06-05	Mercedes-Benz proposes tariff offset system with US, Spiegel reports	RE

Projected Income Statement: Mercedes-Benz Group AG

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	154,309	167,971	150,017	153,218	145,594	140,884	141,804	146,307
Change	-	8.85%	-10.69%	2.13%	-4.98%	-3.24%	0.65%	3.18%
EBITDA ¹	15,560	36,049	26,979	26,323	20,371	16,712	17,719	19,431
Change	-	131.68%	-25.16%	-2.43%	-22.61%	-17.96%	6.02%	9.66%
EBIT ¹	6,603	29,069	20,458	19,660	13,599	9,311	10,695	12,191
Change	-	340.24%	-29.62%	-3.9%	-30.83%	-31.53%	14.86%	13.99%
Interest Paid ¹	-264	-294	-154	424	548	-467.6	-432.2	-404
Earnings before Tax (EBT) ¹	6,339	28,775	20,304	20,084	14,147	9,498	10,315	12,591
Change	-	353.94%	-29.44%	-1.08%	-29.56%	-32.86%	8.6%	22.07%
Net income ¹	3,600	23,006	14,501	14,261	10,207	6,754	7,397	8,946
Change	-	539.06%	-36.97%	-1.66%	-28.43%	-33.83%	9.52%	20.93%
Announcement Date	18/02/21	24/02/22	17/02/23	22/02/24	20/02/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1
Net sales ¹	30,184	40,281	46,621	41,017	43,482	40,083	43,389	34,858	36,440	37,716	41,003	37,516	38,241	37,200	40,261	35,873	36,743	34,528	38,450	33,224	34,952	34,135	35,454	32,614
Change	-	33.45%	15.74%	-12.02%	6.01%	-7.82%	8.25%	-19.66%	4.54%	3.5%	8.72%	-8.5%	1.93%	-2.72%	8.23%	-10.9%	2.43%	-6.03%	11.36%	-13.59%	5.2%	-2.34%	3.87%	-8.01%
EBITDA	-	-	-	-	-	-	16,156	6,840	6,237	6,884	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-57.66%	-8.82%	10.37%	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-1,682	3,070	4,598	5,748	5,185	3,579	14,557	5,229	4,622	5,196	5,411	5,504	4,988	4,842	4,326	3,863	4,037	2,517	3,182	2,289	1,900	1,885	2,332	2,478
Change	-	282.52%	49.77%	25.01%	-9.79%	-30.97%	306.73%	-64.08%	-11.61%	12.42%	4.14%	1.72%	-9.38%	-2.93%	-10.66%	-10.7%	4.5%	-37.65%	26.42%	-28.06%	-17%	-0.8%	23.72%	6.25%
Charge d'intérêts	-60	-38	-12	-118	-96	-20	-94	-42	-73	-30	-9	65	97	138	124	-	-	-	125	-	-	-	-	-
Earnings before Tax (EBT)	-1,742	3,032	4,509	5,682	5,089	2,879	14,463	5,187	4,549	5,166	-	5,569	5,085	4,980	-	4,029	4,166	2,645	3,307	2,422	-	-	-	-
Change	-	274.05%	48.71%	26.01%	-10.44%	-43.43%	402.36%	-64.14%	-12.3%	13.56%	-	-	-8.69%	-2.06%	-	-	3.4%	-36.51%	25.03%	-26.76%	-	-	-	-
Net income ¹	-1,906	2,049	3,485	4,290	3,704	2,470	12,648	3,586	3,198	3,923	3,981	4,011	3,641	3,636	3,117	2,974	3,016	1,719	2,484	1,678	1,529	1,264	1,317	1,806
Change	-	207.5%	70.08%	23.1%	-13.66%	-33.32%	412.06%	-71.65%	-10.82%	22.67%	1.48%	0.75%	-9.22%	-0.14%	-14.27%	-4.59%	1.41%	-43%	44.5%	-32.45%	-8.89%	-17.32%	4.22%	37.06%
Announcement Date	23/07/20	23/10/20	18/02/21	23/04/21	21/07/21	29/10/21	24/02/22	27/04/22	27/07/22	26/10/22	17/02/23	28/04/23	26/07/23	26/10/23	22/02/24	30/04/24	26/07/24	24/10/24	20/02/25	30/04/25	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2022 S1	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	84,499	71,298	75,757	77,461	72,616	72,978	66,995	67,830
Change	-	-15.62%	6.25%	2.25%	-6.25%	0.5%	-8.2%	1.25%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	10,933	9,851	10,492	9,168	7,900	-	3,495	4,431
Change	-	-9.9%	6.51%	-12.62%	-13.83%	-	-	26.78%
Charge d'intérêts	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	10,654	-	8,195	-	-	-
Change	-	-	-	-	-	-	-	-
Net income	-	-	7,652	-	5,990	-	-	-
Change	-	-	-	-	-	-	-	-
Announcement Date	21/07/21	27/07/22	26/07/23	22/02/24	26/07/24	20/02/25	-	-

¹EUR in Million

Estimates

Forecast Balance Sheet: Mercedes-Benz Group AG

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-17,855	-21,005	-26,637	-31,659	-31,417	-31,198	-32,813	-35,760
Change	-	-17.64%	-26.81%	-18.85%	0.76%	0.7%	-5.18%	-8.98%
Announcement Date	18/02/21	24/02/22	17/02/23	22/02/24	20/02/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Mercedes-Benz Group AG

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	5,741	7,320	7,763	8,213	8,665	8,985	8,466	8,325
Change	-	27.5%	6.05%	5.8%	5.5%	3.7%	-5.78%	-1.66%
Free Cash Flow (FCF) ¹	8,259	8,606	8,128	11,316	9,152	5,815	5,349	6,714
Change	-	4.2%	-5.55%	39.22%	-19.12%	-36.46%	-8.01%	25.52%
Announcement Date	18/02/21	24/02/22	17/02/23	22/02/24	20/02/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Mercedes-Benz Group AG

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	10.08%	21.46%	17.98%	17.18%	13.99%	11.86%	12.5%	13.28%
EBIT Margin (%)	4.28%	17.31%	13.64%	12.83%	9.34%	6.61%	7.54%	8.33%
EBT Margin (%)	4.11%	17.13%	13.53%	13.11%	9.72%	6.74%	7.27%	8.61%
Net margin (%)	2.33%	13.7%	9.67%	9.31%	7.01%	4.79%	5.22%	6.11%
FCF margin (%)	5.35%	5.12%	5.42%	7.39%	6.29%	4.13%	3.77%	4.59%
FCF / Net Income (%)	229.42%	37.41%	56.05%	79.35%	89.66%	86.1%	72.32%	75.06%
Profitability
ROA	1.67%	4.83%	5.58%	5.45%	3.87%	4.39%	4.5%	4.99%
ROE	9.8%	22.3%	18.43%	16.1%	11.07%	7.19%	7.52%	8.4%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	3.72%	4.36%	5.17%	5.36%	5.95%	6.38%	5.97%	5.69%
CAPEX / EBITDA (%)	36.9%	20.31%	28.77%	31.2%	42.54%	53.76%	47.78%	42.84%
CAPEX / FCF (%)	69.51%	85.06%	95.51%	72.58%	94.68%	154.52%	158.25%	123.99%
Items per share
Cash flow per share ¹	20.87	22.95	15.79	13.66	17.7	15.14	15.81	17.53
Change	-	9.93%	-31.18%	-13.52%	29.61%	-14.44%	4.43%	10.86%
Dividend per Share ¹	1.35	5	5.2	5.3	4.3	3.175	3.39	3.975
Change	-	270.37%	4%	1.92%	-18.87%	-26.17%	6.79%	17.26%
Book Value Per Share ¹	56.73	67.26	79.84	86.61	92.44	97.92	103.4	108.6
Change	-	18.55%	18.71%	8.48%	6.73%	5.93%	5.58%	5.08%
EPS ¹	3.39	21.5	13.55	13.46	10.19	6.938	7.83	9.677
Change	-	534.22%	-36.98%	-0.66%	-24.29%	-31.91%	12.85%	23.59%
Nbr of stocks (in thousands)	1,069,837	1,069,837	1,069,837	1,040,937	948,194	961,961	961,961	961,961
Announcement Date	18/02/21	24/02/22	17/02/23	22/02/24	20/02/25	-	-	-